ISLE OF MAN: PROCEEDS OF CRIME ACT (COMPLIANCE WITH INTERNATIONAL STANDARDS) (NO.2) ORDER 2019
The Order Paper for the final sitting of the Island’s parliament on 16th July includes this Order which seeks to enhance the effectiveness of the Isle of Man’s confiscation and asset recovery regime –
- concerning the level of proof required in court for restraint of assets where it is suspected that the alleged offender has benefitted from criminal conduct. Requiring a “reasonable cause to believe” is replaced by requiring a “reasonable grounds to suspect”;
- amendments require the Court to seek reports from the applicant for a restraint order, to update it as to the progress of the investigation; permitting the Court to discharge the restraint order if proceedings are not commenced in a reasonable time; and
- amends the Proceeds of Crime Act 2008 to enable a “financial investigator” (as defined) from the Economic Crime Unit of the police to exercise powers and functions in relation to the recovery of cash in summary proceedings; and
- amends the Act to include ‘financial investigator’ as an ‘appropriate officer’ in relation to a confiscation investigation, a detained cash investigation and a money laundering investigation where he/she is so authorised by the Attorney General or the Chief Constable. A definition of ‘financial investigator’ is to be inserted into section 65 of the Act.
The amendments seek to address 2 issues which have been identified as adversely impacting the Island’s progress towards meeting recommendations made in MONEYVAL’s Mutual Evaluation Report (MER) on the Isle of Man in respect of restraint and confiscation of the proceeds of crime.
http://www.tynwald.org.im/business/opqp/sittings/20182021/2019-SD-0263-July2019.pdf
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